Shaanxi Yanchang opens 10th gas station in China

Shaanxi Yanchang and Shell Petroleum Co. Ltd., a joint venture between Shaanxi Yanchang Petroleum (Group) Co. Ltd., Shaanxi Tianli Investment Co. Ltd. and Shell (China) Ltd., opened its tenth gas station in Xi’an, Shaanxi Province, on October 12. It plans to build and operate around 100 gas stations in the province. The three parties signed a joint venture contract in June 2008 and obtained government approval with a license to operate at the end of the year. Yanchang Petroleum Group has a 46% shareholding, Shaanxi Tianli 9% and Shell 45%. Shen Hao, Chairman of Yanchang Petroleum Group, said: “We are very pleased to work with Shell in the joint venture. This cooperation is mutually beneficial. It allows us to distribute products of both Yangchang and Shell while benefiting from the management expertise and service standards of Shell.” (October 13, 2009)